In this videocast, I discuss why it is time for startups in Nigeria and Africa to pay attention to the insurance sector. As one of the least penetrated, yet relatively matured sectors, in Nigeria, insurance offers opportunities which must be unlocked. Fintech does not end in remittance and banking – it extends to insurance. As we see the integration of BVN (bank verification number) and NIN (national identity number), quality data will be available for entrepreneurs to build products which will grow Nigeria’s insurance sector, currently at 0.4% penetration rate.
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